NFL Net's Bornstein Advising CVC On IMG Bid, Could Be Named Chair If Successful
NFL Network President & CEO Steve Bornstein is "playing a behind-the-scenes role in the auction of sports agency IMG by advising a bidders group headed by British money management firm CVC Capital Partners," according to Grover & Richwine of REUTERS. Sources said that Bornstein "would be a top candidate" to become IMG Chair if the bid is successful (REUTERS, 11/15). In N.Y., Claire Atkinson cites sources as saying that WME and its backer Silver Lake have "drafted" former ESPN Exec VP/Programming & Production Mark Shapiro to "advise on their bid for IMG." A source said that the bids "are all" in the $2.5B range, but that offers could reach $2.7B "if the competition heats up." Sources said that a winner "is expected to be named before the end of the year," and that IMG Chair & CEO Mike Dolan and other members of the IMG management team will "reap a payout of between" $5M-10M if a deal is completed (N.Y. POST, 11/19).